We are an IT startup Pvt. Ltd. company, currently with a small team of developers. We would be hiring a couple of directors in the first fiscal as our team would be increasing substantially. We are 2 partners (co-founders) of the company and all the legal documentation is done. We were thinking about creating appointment letters for both of us (co-founders) for the designation of CEO and CTO but are not sure about the format involved. As we both are co-founders, we have not yet decided as to who would be the MD. Do we need a MD in our case? If not, then can we both sign on each appointment letter with the terms and conditions set?
I would greatly appreciate any positive and to-the-point response for my query. It would be great if anyone could share a format for the appointment letter for founders.
Have a great day ahead.
From India, Ludhiana
It is better to consult a Chartered Accountant for the legality of company and helping out with who should be the MD / CEO etc. Company needs to be registered with the Registrar and then on letter heads can the letters be issued.
What is the point of appointment letter to the CEO / MD of private company where your names would be mentioned in the company registration agreement and where profit / loss share proportions from the business is mentioned?
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